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today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the absence of cutting spending someplace to replace those 1.2 -- >> got to take it where you get it. >> it's not the only way we're going to get it. >> it's never a good time to cut spending. it's one of the things i've learned. i guess i saw it years ago when i worked down there. but reporting on this thing night after night, one of the things i learned, senator moran, is it's never a good time to cut spending. so march 1st is an interesting deadline. >> i'm not voting to set the sequester aside unless we cut the 1.2 trillion someplace else. >> good luck on that. senator jerry moran of kansas, thank you ve
today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the...
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Feb 5, 2013
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republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see the president's address live right here on "power lunch" in just a few moments. before that occurs, we have a triple digit advance. the market added to advances a few moments ago when we got budget figures. the dow up 109 points. the nasdaq up 34 and the s&p 500 is up 14 points. more on the trading action right here from bob pisani. he joins me on the floor of the nyse. it's almost like yesterday didn't happen. >> the important thing is, i know it doesn't seem terribly exciting but we are 14,000, we're a couple of points from a historic high from the dow jones industrial. we've been up a couple points throu
republicans acted in that direction by putting off the debt ceiling a couple of months until may as hampton mentioned a minute ago. the president is going to propose the same thing on the budget sequester but not, according to a white house official, laying out his own plan. he's going to call on congress to do that and expected response from republicans, tyler, is, hey, mr. president, where are your cuts, we want to see them. >> john harwood, thank you very much. once again you will see...
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Feb 8, 2013
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. >> nobody is worried about this upcoming debate on sequestration, on the debt ceiling. you think that creates noise and disruption. >> i do, maria. i think that you've got a trifecta coming off, you've got the skywest raise and the debt ceiling and the eurozone so there's still a lot of volatility out there, so that's have we're cautiously optimistic. you need to be properly allocated in order to reap the rewards of the greatest capital machine in the world which is our united states stock market. >> thanks, everybody. appreciate your time. >> we'll see you soon in the final stretch of trading. we've got a market that's higher on the dow jones industrial average. >> remember, the dow needs to be up 66 points or there abouts to be positive. don't look now but suddenly apple is up past $475 a share and it's all because big investors have a beef with the board. we'll talk to one major investor who is on apple's side in this battle. >> look outside new york city and our cnbc headquarters. it is bad and it's getting worse. the big worry now, power outages. believe it or not,
. >> nobody is worried about this upcoming debate on sequestration, on the debt ceiling. you think that creates noise and disruption. >> i do, maria. i think that you've got a trifecta coming off, you've got the skywest raise and the debt ceiling and the eurozone so there's still a lot of volatility out there, so that's have we're cautiously optimistic. you need to be properly allocated in order to reap the rewards of the greatest capital machine in the world which is our united...
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Feb 8, 2013
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it's probably because looking at debt ceiling in the future. it's much more about what the lineup is because of how the temp structure has set up. >> chris, i know you're expecting a good year for stocks, but do you think that we're going to have some selloffs around these issues in washington, sequestration, the budget cuts to come. are you going to be buying on the dip if that were to happen? >> yes, maria. in fact, i agree with amy on the u.s. markets. i think it's going to be a little bit of tough sledding specifically because of sequestration and because of the fact we're starting right at this moment at fairly high investor sentiment levels, and the interesting thing, really a question of time horizon, amy's time horizon is maybe a little bit shorter than how we invest, but the interesting thing is what we found in studying investor sentiment is even when it's at optimistic levels like it is right now, that tends to mute forward returns from say zero to a couple months ahead time frame. it's actually a good thing from a nine to 12-month g
it's probably because looking at debt ceiling in the future. it's much more about what the lineup is because of how the temp structure has set up. >> chris, i know you're expecting a good year for stocks, but do you think that we're going to have some selloffs around these issues in washington, sequestration, the budget cuts to come. are you going to be buying on the dip if that were to happen? >> yes, maria. in fact, i agree with amy on the u.s. markets. i think it's going to be a...
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Feb 1, 2013
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extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i know, but resolution of all these issues would be a huge boost to business confidence, capital expenditures and hiring would increase dramatically and revenues would rise, and that's what we need, maria. back to you. >> that's some list, bob. >> pretty ambitious. >> we'll be watching that. not everybody is buying into this bull market theory, by the way. pimco's bill gross is actually warning investors to be afraid, and i mean very afraid, of how inflation and the flood of cheap money will impact investments from here on out. bill joins me exclusively from pimco
extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i...
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Feb 7, 2013
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we've worked through the debt ceiling pretty well, but when it comes to the sequester i think you've got a real problem here. the republicans might have leverage. obama doesn't seem to be ready to deal with that, and i don't know if the market is
we've worked through the debt ceiling pretty well, but when it comes to the sequester i think you've got a real problem here. the republicans might have leverage. obama doesn't seem to be ready to deal with that, and i don't know if the market is
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Feb 5, 2013
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president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and
president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally...
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Feb 2, 2013
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we're not worried about the debt ceiling crisis. we're not worried about, well, for the moment, the eu -- we have that kind of psychological factor. a healthy private sector. and the problem is what? the problem is government and bad policy. and that's what we have to offset. >> but jim iuorio, i want to know where to invest. do we buy gold, silver, and commodities? do we buy banks, which are lagging a little bit? do we buy industrial cyclicals to play the world boom, if there is such a thing? in other words, how do you invest right now, having passed this 14,000 benchmark? >> well, there's a couple things. first of all, when caterpillar released its earnings it talked about good numbers out of housing. and you stloe in china. you invest in things like copper. you know i still like gold and silver. and today with the green light from the fed i'm still going to stay in things like those. i am in bank of america. i am in health care. i think the stock market looks pretty good. you said before, though, the stock market tends to be a le
we're not worried about the debt ceiling crisis. we're not worried about, well, for the moment, the eu -- we have that kind of psychological factor. a healthy private sector. and the problem is what? the problem is government and bad policy. and that's what we have to offset. >> but jim iuorio, i want to know where to invest. do we buy gold, silver, and commodities? do we buy banks, which are lagging a little bit? do we buy industrial cyclicals to play the world boom, if there is such a...
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Feb 6, 2013
02/13
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we agree on debt ceiling in terms of fiscal, that won't get breached. we're less certain about the continuing resolutions. we think there will be argument and sequestration a drag. >> we agree with that. >> from a growth perspective, a little more than 2%. housing is key. we see the manufacturing piece as positive, not necessarily on employment side because there's such great productivity in u.s. manufacturing and energy will add over time. there's definitely positives. still, this year, the fiscal issues -- >> i have to break in -- >> more breaking news. >> is this monopoly. >> from john harwood this morning, obama is set to nominate sally jewel extensiecu of rei equipment. >> that is so fitting. >> outdoor company for interior secretary. >> you were going to say something? >> we are a big believer in long term growth, especially energy sector. we just bought dahlman rose an investment bank focused on the natural supply chain and think there's huge growth in the capital for small companies and energy sector in particular and think there's a cyclical bo
we agree on debt ceiling in terms of fiscal, that won't get breached. we're less certain about the continuing resolutions. we think there will be argument and sequestration a drag. >> we agree with that. >> from a growth perspective, a little more than 2%. housing is key. we see the manufacturing piece as positive, not necessarily on employment side because there's such great productivity in u.s. manufacturing and energy will add over time. there's definitely positives. still, this...
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Feb 1, 2013
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. >> your thoughts on the debt ceiling. >> no. >> you think we are in danger of a bond bubble? >> i don't even know what that is. >> which mario has done a better job monti or draghi? >> monti or draghi? you know i have no idea what you're talking about, so -- >> what's your favorite show on television? >> hmm. "american greed." >> really? >> yeah. >> can you open that up for me? >> oh! >> you just made my day. >> i wish we could show more of that stuff. that was michael james, guys. and he was touched. because he tweets about "american greed" all the time. and i went on to talk to him about his favorite show and he's like god forgive me, but the one when the preacher steals from the church, and he went through this whole thing about how that's his favorite show. matt burke went to harvard he knows his stuff with the ravens and the kicker for the niners, he's a cramer guy and he's a conservative aaa-rated tax-free bond guy. >> i feel so bad for these guys because it's kind of like talking to me about football. if you ask me those questions, like oh, yeah. >> they would get angr
. >> your thoughts on the debt ceiling. >> no. >> you think we are in danger of a bond bubble? >> i don't even know what that is. >> which mario has done a better job monti or draghi? >> monti or draghi? you know i have no idea what you're talking about, so -- >> what's your favorite show on television? >> hmm. "american greed." >> really? >> yeah. >> can you open that up for me? >> oh! >> you just made my...
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Feb 4, 2013
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ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march towards the end of the month? is there more fiscal drag related tr these talks? >> we still see economic up sides for the u.s. citi economists have improved their growth forecast overall, but this isn't helping and it's not necessarily helping business confidence. what we think markets may not be prepared for is the fact that ee quest ragz is now likely to kick in. these are comments from both parties suggested that they be willing to allow this to happen. it may be the lesser of the evils. >> what are we talki
ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march...
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Feb 1, 2013
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ceiling which we did we would unleash all of this economic activity in the first quarter. it happened already. it happened in the third quarter. happened in the fourth quarter. and we know now that gdp for all of 2012 as it stands now, 1.5%, not very good. we didn't help anything back to have a burst of activity coming forward which is why i think economists still project the first quarter another sub par quarter around 1.5. >> you're saying the phenomenon they're talking about as uncertainty was more of a tax issue only pulling the money forward to pay the lower tax rate. second issue, ghost busters. no. second issue is rotation. this is the number one topic. and what says jim bianco on the rotation conventional wisdom? >> you just hinted it. it was all about taxes in late december. everybody pulls forward. bonuses, distributions, 401(k), whatever, paid in late december. yes a lot of money went into stocks. more money went into bonds. even more money went into money market funds. everybody got money in january. because everybody got paid in late december as opposed to spr
ceiling which we did we would unleash all of this economic activity in the first quarter. it happened already. it happened in the third quarter. happened in the fourth quarter. and we know now that gdp for all of 2012 as it stands now, 1.5%, not very good. we didn't help anything back to have a burst of activity coming forward which is why i think economists still project the first quarter another sub par quarter around 1.5. >> you're saying the phenomenon they're talking about as...
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we are not going to have a debt ceiling default crisis and we're not going to have a government shut down. we'll have sequester for a few months, but i think these great epic struggles that worry the markets are starting to fade as a strategic policy. >> do you think it happens, greg? >> for a while, yeah. i think on march 1 we begin at least on defense and discretionary spending. if there's enough squawking maybe by late spring, early summer it gets undone. we'll have that. still some head winds. there is this and the higher payroll tax. maybe first rate growth is a little slow but by the second half, things could be looking much better. >> this week, we moved closer to the unthinkable. the sequester that president obama promised us would never happen. listen just a few months ago. >> first of all, the sequester is not something that i proposed. something that congress has proposed. it will not happen. >> i don't know, that could be the one election promise the president fails to keep. the sequester a part of the decision on march 1st. what happens if the sequester happens? >> well,
we are not going to have a debt ceiling default crisis and we're not going to have a government shut down. we'll have sequester for a few months, but i think these great epic struggles that worry the markets are starting to fade as a strategic policy. >> do you think it happens, greg? >> for a while, yeah. i think on march 1 we begin at least on defense and discretionary spending. if there's enough squawking maybe by late spring, early summer it gets undone. we'll have that. still...
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we are not going to have a debt ceiling default crisis. we're not going you have to a government shutdown. yeah, we'll probably have sequester for a few months. but i think these great epic struggles that worried the markets are starting to fade as a strategic policy. >> do you think we veal the sequester? do you think it happens, greg? >> for a while, yeah. i think on march 1 we begin at least on defense and discretionary spending. if there's enough sidewalking maybe by late spring, early sum eshg it gets undone. we'll have that. there's still some headwinds. there's this and the higher payroll tax. maybe first-half growth would be a little slow but i think the storm is sending us a message that by the second half things could be looking much better. >> this week, austin, we moved closer to the automatic across the board spending cuts, the sequester that president obama promised us would never happen. listen a few months ago. >> first of all, the sequester is not something that i propose, it's something congress has po pro-posed. it will
we are not going to have a debt ceiling default crisis. we're not going you have to a government shutdown. yeah, we'll probably have sequester for a few months. but i think these great epic struggles that worried the markets are starting to fade as a strategic policy. >> do you think we veal the sequester? do you think it happens, greg? >> for a while, yeah. i think on march 1 we begin at least on defense and discretionary spending. if there's enough sidewalking maybe by late...
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it was august 2011 and the word sequester came out of the failed deal on the debt ceiling. then came the fiscal cliff, that was the next chance to prevent all of the cuts. washington punted, they said hey, three more months, we'll solve it then. nope. now three months is coming so guess what? they will punt again. you know what, thinking about it today, it reminded me a lot about this. ♪ put your little hand in mine ♪ put your little hand in mine ♪ put your little hand in mine ♪ there ain't no hill or mountain we can't climb ♪ >> that of course was "groundhog day." at least they had a good song. we have to listen to the terrible voices of people in washington. "outfront," michael waldman president of the brennan center from nyu school of law, and michael medved, conservative commentator for salem radio. great to see both of you. michael waldman, you're both michael so i have to do first and last names. great to see both of you. the president asking for a smaller package because a bigger deal can't get done. how is this moving the ball forward? there's blame to go
it was august 2011 and the word sequester came out of the failed deal on the debt ceiling. then came the fiscal cliff, that was the next chance to prevent all of the cuts. washington punted, they said hey, three more months, we'll solve it then. nope. now three months is coming so guess what? they will punt again. you know what, thinking about it today, it reminded me a lot about this. ♪ put your little hand in mine ♪ put your little hand in mine ♪ put your little hand in mine ♪ there...
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ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far as the eye can see. this president, it's time for him to step up, put forward a balanced budget or tell us when his budget will balance. >> for more on what we expect to hear from the president, we want to bring in my colleague and friend, john king in washington. john we know the president will try to kick the can forward here, talk about the need for revenue, as well as spending cuts but not deep cuts that everybody's concerned. what do we expect? >> a familiar haunt for both of us, the white house briefing room. using the
ceiling debate of 2011. republicans say it is now time for the president to do something. >> this week, i'm pleased to join my leadership in putting forward the require a plan act that will say to the president two specific things. put a budget in place that balances with a continue-year period of time, but if you don't, tell us when it does. tell us when your plan balances. families and businesses across the great nation must work on a balanced budget. they can't borrow and spend as far...
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ceiling issue so that they can breathe a little bit and try and move away from just these fiscal issues. now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you ever think republicans would call him a rhino, republican in name only. here you go. i've always thought of karl rove as a conservative. what's going on is his pac has said, you know what, we are tired of someone associated with his pac said to me, quote, the novelty of losing elections has worn off, and what they've decided to do is to start putting their money in primaries. they want to vet republican primary candidates so that by the time they get to the general election they believe they have qualified vetted candidates who can actually win. conservatives are saying, this is not what you should do. you need
ceiling issue so that they can breathe a little bit and try and move away from just these fiscal issues. now on the horizon there are lots of house republicans, particularly younger ones, who say let's cut the defense budget, let those automatic spending cuts take place, and there are lots of senior republicans who say, not so fast. so that's going to be a problem within the republican party as we look ahead. >> where does karl rove and his new super pac fit into that? >> did you...
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Feb 2, 2013
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i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down
i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down
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Feb 4, 2013
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i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces tha
i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't...
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Feb 9, 2013
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it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies beyond the fiscal debate. over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness and prosperity for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health care, innovation and job growth. our solutions will be based on the conservative presence of self-reliance, faith in the individual, trust in family and accountability in government. our goal is
it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies...
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ceiling and creating the select committee, no evidence we were able to achieve something. while i have not walked away from those issues, i did see the conclusion, maybe there is a different approach to getting our country out of the fiscal condition it is aimed, growing the economy, job creation. at about that time, a report from kansas city is devoted to entrepreneurship. that landed on my desk with recommendations about what washington might do in order to enhance the chances that the united states is and would remain a country of entrepreneurs. we took those ideas and began the process of drafting legislation. at about that time, senator wide and introduced himself and said i have an issue that might be of interest to you. would you care to team up with me? we spent a short amount of time analyzing the issues of sopa and pipa and realizing much of the job growth and the additional revenues to the treasury or occurring because of the innovation of the technology sector. certainly start of companies can be from the person that decides it wants to open a dry cleaners to t
ceiling and creating the select committee, no evidence we were able to achieve something. while i have not walked away from those issues, i did see the conclusion, maybe there is a different approach to getting our country out of the fiscal condition it is aimed, growing the economy, job creation. at about that time, a report from kansas city is devoted to entrepreneurship. that landed on my desk with recommendations about what washington might do in order to enhance the chances that the united...
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Feb 2, 2013
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i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down graded. i think that is part of why -- even republicans who care very much about spending are nervous to use that as a bargaining chip again. we saw how damaging bringing into question the credit worthiness of the government. the fight should not be should we pay the bill? >> there is an interesting question about in retrospect if republicans leveraging the debt limit to get a bill that cut spending by $1 to $2 trillion going forward whether that was worth it? they introduced liquidity risk. if you don't cut spending we're not going to vote for a debt limit increase. it worked. the president agreed to cut the spending by a significant amount. now, would you like that negotiation had resulted from not having made that threat? absolutely. but do you think it would have occurred? there's the difference. i would never be one to advocate that congress shou
i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down graded. i think that is part of why -- even republicans who care very much about spending are nervous to use that as a bargaining chip again. we saw how damaging bringing into question the credit worthiness of the government. the fight should not be should we pay the bill? >> there is an...
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ceiling debate until may 18. you have these self-imposed economic wounds, and we really should be dealing with them all at at once in a comprehensive manner. if we cannot deal with it for 10 years, deal with it for the remainder of this fiscal year, and that is what the house democratic alternative did. we would replace with the -- sequester with deficit reduction achieved over a longer time. >> watch the entire interview sunday at 10:00 a.m. eastern and again later at 6:00 p.m. on c- span. now, douglas emmett dorf, director of the congressional budget office. this is just over one hour. >> thank you all for coming. i am the director of the congressional budget office. cbo just released its outlook for the federal budget and the economy over the next decade. i would like to tell you a little about it, and then my colleagues and i will be happy to take your questions. our analysis shows that the united states continues to face very large economic and budget challenges. under current law, we expect the unemployment
ceiling debate until may 18. you have these self-imposed economic wounds, and we really should be dealing with them all at at once in a comprehensive manner. if we cannot deal with it for 10 years, deal with it for the remainder of this fiscal year, and that is what the house democratic alternative did. we would replace with the -- sequester with deficit reduction achieved over a longer time. >> watch the entire interview sunday at 10:00 a.m. eastern and again later at 6:00 p.m. on c-...
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Feb 4, 2013
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host: some are not strategy as far as moving the debt ceiling ahead. guest: if they had gone ahead with it, it would have been politically cataclysmic. it was the worst percival -- worst possible ground to make their point. president obama 1. i think it's absolutely crucial for the future of the country that you cannot govern from the house. some house republicans, i am sympathetic to their concerns. their enthusiasm try to get in the battle is misplaced. you would have had high-stakes confrontation. in the end, you would have had republicans peeling off. but you would have been, at the beginning, bumping your chest, making all of these demands, saying we're not going to back down. at the end they would cave damn it would have gotten the worst of all possible worlds. there's a lot of frustration in the republican caucus that john boehner has to deal with. i think he did a pretty good job. host: peter wehner, senior fellow at the ethics and the policy center. if you want to find out more about his organization and his writing, visit their web site. comi
host: some are not strategy as far as moving the debt ceiling ahead. guest: if they had gone ahead with it, it would have been politically cataclysmic. it was the worst percival -- worst possible ground to make their point. president obama 1. i think it's absolutely crucial for the future of the country that you cannot govern from the house. some house republicans, i am sympathetic to their concerns. their enthusiasm try to get in the battle is misplaced. you would have had high-stakes...
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Feb 9, 2013
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republicans have moved to the debt ceiling debate to may 18. you have all of these self- imposed economic wounds. we should be dealing with them all at once in a comprehensive manner. if we cannot deal with it for a 10 year period, deal with it for the remainder of the fiscal year. that is what the house democratic alternative did. we would replace the sequester with the hotel -- with deficit reduction achieved over a longer amount of time. host: ray locker is the national security editor with "usa today ." he is here to talk to us about the sequestration's affect on defense spending. what exactly is sequestration? guest: it means mandatory budget cuts. they were part of a 2011 deal that congress and the white house agreed to. they were worried about raising the national debt ceiling, which is $16.4 trillion. republicans hoped to try to force a general deduction of overall spending. it came down to this deal where it was they would do a supercommittee that would come up with a deal by the end of 2011. they did not. if they did not reach a deal
republicans have moved to the debt ceiling debate to may 18. you have all of these self- imposed economic wounds. we should be dealing with them all at once in a comprehensive manner. if we cannot deal with it for a 10 year period, deal with it for the remainder of the fiscal year. that is what the house democratic alternative did. we would replace the sequester with the hotel -- with deficit reduction achieved over a longer amount of time. host: ray locker is the national security editor with...
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Feb 5, 2013
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it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies beyond the fiscal debate. over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness and prosperity for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health care, innovation and job growth. our solutions will be based on the conservative presence of self-reliance, faith in the individual, trust in family and accountability in government. our goal is
it's been on debt ceilings, budgets, deadlines and negotiations. all of this is extremely important because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that's facing us, our children and theirs. and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus really on what lies...
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Feb 5, 2013
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ceiling decision. which shouldn't be a decision. and all you have been hearing from the majority in the house and the republicans in the senate is austerity, austerity, cuts, cuts and avoiding the whole discussion of the fact that those -- that attitude and philosophy is only going to worsen the economy if the sequestration goes through, that is 660,000 jobs lost the first year and the balancing act is about creating revenue and creating revenue from sources that should be on the table, but aren't being discussed on the table. balancing act is about investment in this term with jobs, education, r&d's in order to grow and stin the recovery we are on. investment in this term. and we all recognize the deficit is an issue, but an issue over a long-term and the balancing act by repealing sequestration, creates for us in this country an opportunity to continue to recover and stabilize our economy, invest in things that we need for the future and put on the table revenue that is not there that needs to be par
ceiling decision. which shouldn't be a decision. and all you have been hearing from the majority in the house and the republicans in the senate is austerity, austerity, cuts, cuts and avoiding the whole discussion of the fact that those -- that attitude and philosophy is only going to worsen the economy if the sequestration goes through, that is 660,000 jobs lost the first year and the balancing act is about creating revenue and creating revenue from sources that should be on the table, but...
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Feb 2, 2013
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s own fight over the debt ceiling. and then we were set to take off, all of a sudden we saw a big tumble in the stock markets and we saw job growth go back down again. i believe in august 2011 the initial report was zero net jobs. now they eventually revised that up to 100,000, but still an amemic growth rate. host: we continue our conversation regarding the 157,000 jobs added in january in the unemployment rate back now at 7.9% with patrick rice of politico. donald from statesville, north carolina is our next caller. donald is on our line for republicans. caller: hey, how you doing. i'm calling from statesville, north carolina, and we got some bad news here. freight liner who was in cleveland, north carolina, is going to lay off 750 employees. trim systems that supported them, they're closing their plant, 65 employees down to two. but here's my question, you know. when they do these job numbers, lowe's down here is going to hire 45,000 part time workers. does that count in the job numbers? or those are not even includ
s own fight over the debt ceiling. and then we were set to take off, all of a sudden we saw a big tumble in the stock markets and we saw job growth go back down again. i believe in august 2011 the initial report was zero net jobs. now they eventually revised that up to 100,000, but still an amemic growth rate. host: we continue our conversation regarding the 157,000 jobs added in january in the unemployment rate back now at 7.9% with patrick rice of politico. donald from statesville, north...
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Feb 2, 2013
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i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces tha
i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't...
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Feb 8, 2013
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there was an agreement made a year-and-a-half ago that he would get a debt ceiling increase and there would be a $1.20 trillion cut. the super committee was supposed to put it together. they were supposed to prioritize. they were selects members of the congress who were supposed to prioritize. they did not do it. know when they might not do it, congress said we will put something in here that is so draconian and so stupid that nobody would let it happen. lo and behold, that is what we are dealing with. that is a sad state of affairs from the political process, a very sad state of affairs. now we come back and say, what should we do with sequestration? the president talks about cows balance and fairness. -- talks about balance and fairness. there was $4 in spending for every $1 in tax increases. as we went along, the discussion shifted. as election prospects rose and fell, the balance suddenly became $2 to $1. after the election, the talk was $1 to $1. after we saw the deal done, it was zero spending cuts for the tax increases. now we are hearing negative to $1. the president wants to
there was an agreement made a year-and-a-half ago that he would get a debt ceiling increase and there would be a $1.20 trillion cut. the super committee was supposed to put it together. they were supposed to prioritize. they were selects members of the congress who were supposed to prioritize. they did not do it. know when they might not do it, congress said we will put something in here that is so draconian and so stupid that nobody would let it happen. lo and behold, that is what we are...
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Feb 1, 2013
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i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces tha
i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't...
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Feb 5, 2013
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ceiling and that is no way to govern the country. i am hopeful that new labels will give us a way to govern the country where we start out at least bleeding in trusting the other members across the aisle have come to congress for the same reason we have. >> what can you do to bring about a more thoughtful, pragmatic congress? i want to throw out three ideas that are beyond the scope of what knolls febles has taken on. -- no labels has taken on. it was not perfect. we have 150 saved seats. they fear their primary. number two, money. and sentence. the creation of money is one of the threats to democracy. where incentivize to do crazy things. i give two examples last night. when the season the outrageous on the floor, when a republican member calls the president a liar, when a democratic member says the republican health care program is don't get sick and if you die, die quickly. those statements damage the fabric of our democracy and they raised $1 million in 24 hours. we can do about -- something about those first two. number three is
ceiling and that is no way to govern the country. i am hopeful that new labels will give us a way to govern the country where we start out at least bleeding in trusting the other members across the aisle have come to congress for the same reason we have. >> what can you do to bring about a more thoughtful, pragmatic congress? i want to throw out three ideas that are beyond the scope of what knolls febles has taken on. -- no labels has taken on. it was not perfect. we have 150 saved seats....
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Feb 7, 2013
02/13
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ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press conference this week in which i reiterated that i'm prepared, eager, and ang shouse that ends this government by crisis that every two week or every two months or every six months we are threatening this hard recovery, are finally housing is picking up and real estate is doing better and unemployment numbers are still too high. we're geing job growth and manufacturing is doing well and we continue to have these self-inflicted crisis here in washington where suddenly someone taps the brakes. what i said this week was i want to do something bi
ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press...
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Feb 8, 2013
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ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press conference this week in which i reiterated that i'm prepared, eager, and anxious that ends this government by crisis that every two week or every two months or every six months we are threatening this hard recovery, are finally housing is picking up and real estate is doing better and unemployment numbers are still too high. we're seeing job growth and manufacturing is doing well and we continue to have these self- inflicted crisis here in washington where suddenly someone taps the brakes. what i said this week was i want to do something big
ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press...
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Feb 6, 2013
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but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american government was. so am hopeful that we won't keep fighting over this, that we'll have the right fight, which is what she' just any become whicho about the deficit, and not should we pay the bill. i think that's a terrible what. >> and there's a very interesting question about whether, in retrospect, whether republicans leveraging the debt limit in the summer of 2011 could get a bill that cut spending by one to $2 trillion going forward, whether, in fact, that was worth it. because what they did was they introduce liquidity rates by saying hey, if you don't cut spending when not going to vote for a
but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american...
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Feb 8, 2013
02/13
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so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is heading off the robust fast recovery. i think 2013 will be better than 2012. i wish i could tell you it will be really, really good because that's what we dashed we need. >> i'm not a forecaster. i don't have a ph.d in economics. i specialize in economic policy. so i tried to be a good consumer of other forecasts. one thing i've learned from that is frankly i don't trust any macro forecast that goes beyond six months. because i don't think anyone is any -- they're just guessing beyond that. i think we probably, at least i would have similar reactions. i am still very concerned about the risk posed by euro
so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is...
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Feb 2, 2013
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and we have the best to come yet because we have to the side of the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us of vietnam's, on the watergate crisis, and we came charging back, and that think we will do it here. it would be nice if we did not have to go to the clef each time to do it. >> you know, and it began, when you start talking about the kind of relationships and leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it done. you broke still hold goal of growth and jobs, and that is the answer to all of this. you also talked a lot about contagion. now, we all, you know, a sense that if the europeans situation got worse and they are representing 23% of world gdp, you know, the effect that it is going to have on the united states, india, brazil is going to be real. and so with 40 percent of their exports coming year to the united state
and we have the best to come yet because we have to the side of the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us of vietnam's, on the watergate crisis, and we came charging back, and that think we will do it here. it would be nice if we did not have to go to the clef each time to do it. >> you know, and it began, when you start talking about the kind of...
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Feb 4, 2013
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it was not addressed in the debt ceiling. the debt ceiling should have been extended, but we need to now deal with the fundamental problem that our spending and revenues are not in line. now, we could talk about the cause of how we got here. we could talk about how the congress reduced tax revenues while we were at war, a policy that i spoke out against and voted against, but our responsibility is to figure out how we go from where we are today with budget deficits that are not sustainable to how we can bring our country into better fiscal balance. we need a balanced approach. we need an approach that looks at spending, looks at revenues, that acknowledges that job growth is first and foremost our objective. we have got to create more jobs in our economy. more people working, less people needing governmental services, more people paying tax revenues. all of that helps generate the growth in our economy. we have got to protect the middle class. the middle class has been particularly vulnerable during this slowdown in our econo
it was not addressed in the debt ceiling. the debt ceiling should have been extended, but we need to now deal with the fundamental problem that our spending and revenues are not in line. now, we could talk about the cause of how we got here. we could talk about how the congress reduced tax revenues while we were at war, a policy that i spoke out against and voted against, but our responsibility is to figure out how we go from where we are today with budget deficits that are not sustainable to...
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Feb 6, 2013
02/13
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in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus on what lies beyond the fiscal debate. and over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness, and prosperity, for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health health, innovation, and job growth. our solutions will be based on the conservative principles of self-reliance, faith in the individual, trust in family, and accountability
in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing...
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Feb 9, 2013
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ceiling which is just no way to govern the country. and i am hopeful that "no labels" will give us a way said govern the country where we start out, at least be leaving entrusting that the other members across the aisle have come to congress for the same reason we have. this is a big topic. [applause] we are going to go a round and wrap up this question. >> what can you do to help bring about a more thoughtful, pragmatic congress and i want to throw three ideas out there that are little bit beyond the scope of what "no labels" has taken on but are profoundly important and structural. number one, like what the state of california did in terms of having a citizens' commission dropped congressional district? it was not perfect. it was not perfect, but we have something like 1506 seats on both sides. member attuned to incentives is not all that concerned about the general election. member to commend this is a big one. different points of view. money again incentives. my own particular opinion is the permission of money into our system toda
ceiling which is just no way to govern the country. and i am hopeful that "no labels" will give us a way said govern the country where we start out, at least be leaving entrusting that the other members across the aisle have come to congress for the same reason we have. this is a big topic. [applause] we are going to go a round and wrap up this question. >> what can you do to help bring about a more thoughtful, pragmatic congress and i want to throw three ideas out there that...